Robinhood (HOOD) shares tanked 27% to close the session at $50.27 after several wild sessions. Thursday’s decline followed an announcement that some stockholders would be cashing out up to 97.8 million shares. The news came after a massive two-day rally. The investment platform’s shares had gained 100% earlier this week.
Robinhood appears to be the newest meme stock on the Wall Street, highlighting the power of retail investors. It was one of the most mentioned stocks on Reddit’s…
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